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Diamond Creek Condo A 15675 Milan Ln
39 Unit Apartment Building $22,800,000 ($584,615/Unit) 3.17% Cap Rate Morgan Hill, CA 95037
Investment Highlights
- Currently 39 individual condo units in one building.
- Each condo unit has an individual APNs of 767-56-001 through 767-56-039
Executive Summary
39 Individual condo in 1 building for sale in Morgan Hill, CA. Currently used as an investment property by the Seller. Individual condo can be sold separately after November 23, 2025 as restriction was put on the subject property when it was built in 2015. No BMR (Below Market rate) required by the City of Morgan Hill. Seller estimated market value of condo if individually sold at $30,000,000 +/- total. Each Unit is separate water and electric meter. Club House, Swimming Pool, Fitness Center and Children Play Structure in common area for the use by tenants / ownership.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2023) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $22,800,000 | Apartment Style | Low Rise |
Price Per Unit | $584,615 | Building Class | B |
Sale Type | Investment | Lot Size | 0.04 AC |
Cap Rate | 3.17% | Building Size | 44,487 SF |
Sale Conditions | Bulk/Portfolio Sale | Average Occupancy | 94% |
Gross Rent Multiplier | 16.85 | No. Stories | 3 |
No. Units | 39 | Year Built | 2015 |
Property Type | Multifamily | Parking Ratio | 2.79/1,000 SF |
Property Subtype | Apartment |
Price | $22,800,000 |
Price Per Unit | $584,615 |
Sale Type | Investment |
Cap Rate | 3.17% |
Sale Conditions | Bulk/Portfolio Sale |
Gross Rent Multiplier | 16.85 |
No. Units | 39 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Lot Size | 0.04 AC |
Building Size | 44,487 SF |
Average Occupancy | 94% |
No. Stories | 3 |
Year Built | 2015 |
Parking Ratio | 2.79/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Window Coverings
Site Amenities
- Clubhouse
- Fitness Center
- Playground
- Pool
- Elevator
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 6 | - | 796 - 841 |
2+2 | 27 | - | 1,018 - 1,250 |
3+2 | 6 | - | 1,420 |
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Bike Score ®
Very Bikeable (72)
zoning
Zoning Code | RAM-PD (Residential attached medium density-planned development combing district.) |
RAM-PD (Residential attached medium density-planned development combing district.) |
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Presented by
ABC Commercial Realty
Diamond Creek Condo A | 15675 Milan Ln
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